1. Heard the learned counsel for the parties.

2. The facts of the case are as follows. The respondent herein had initiated proceedings against the petitioner for an offence punishable under Section 138 of the Negotiable Instruments Act, 1881 (hereinafter referred to as the `NI Act’, for brevity). In a private complaint filed under Section 200 of the Code of Criminal Procedure, 1973 (hereinafter referred to as the `Cr.P.C’ for brevity), it was alleged that the petitioner’s father had borrowed a sum of Rs.5,00,000/- on 27-11-1996. The same had not been returned inspite of repeated demands. It is further alleged that the petitioner had acknowledged the debt owed by this father to the respondent, as on 25-11-1999 and even subsequently, but ultimately issued a cheque dated 16-2-2006, for a sum of Rs.5,00,000/-, drawn on Shamrao Vittal Co-operative Bank Limited, Bangalore. The respondent claims to have presented the same for encashment on 16-6-2006 through his banker, M/s Vijaya Bank, Raichur. The same is said to have been returned with an endorsement to the following effect, `Refer to drawer’. The respondent is said to have made a demand for payment, claiming that the cheque had